Merchants Bancorp (NASDAQ:MBINN) Trading Down 0.7% – Here’s What Happened

Merchants Bancorp (NASDAQ:MBINN)’s stock price fell 0.7% during mid-day trading on Tuesday . The stock traded as low as $19.93 and last traded at $19.93. 5,815 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 10,657 shares. The stock had previously closed at $20.07.

Merchants Bancorp Trading Up 0.5%

The stock has a fifty day simple moving average of $20.37 and a 200-day simple moving average of $20.09.

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend was Monday, June 15th.

Hedge Funds Weigh In On Merchants Bancorp

A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC purchased a new stake in Merchants Bancorp (NASDAQ:MBINN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 99,359 shares of the company’s stock, valued at approximately $1,825,000.

About Merchants Bancorp

Merchants Bancorp (NASDAQ: MBINN) is a bank holding company headquartered in Buffalo, New York. Through its subsidiary, Merchants Bank, the company provides a comprehensive suite of commercial and consumer banking products across Western New York. Its branch network serves individuals, small businesses and institutional clients with personalized banking solutions.

The company’s core offerings include deposit products such as checking, savings and certificates of deposit, alongside a portfolio of lending products that encompasses commercial and industrial loans, commercial real estate financing, residential mortgages and consumer credit lines.